Revolution Wind passes major regulatory milestone Ørsted and Eversource's Revolution Wind project off the coast of Rhode Island is on track to become the fourth commercial-scale offshore wind project on the U.S. Outer Continental Shelf to be approved
Russia pulls out of Black Sea Grain Initiative Wheat, corn and soybean prices all rose today on the news that Russia has not extended its participation in the UN sponsored Black Sea Grain Initiative. With Russia no longer on board,
HAV Design chosen for second methanol-fueled SOV The second methanol-fueled hybrid service operation vessel (SOV) that Esvagt recently ordered at Turkey's Cemre Shipyard will, like its sister ship set for delivery next year, be built to a design developed
ICTSI Nigeria provides Ogu community with sustainable water systems Onne Multipurpose Terminal (OMT), International Container Terminal Services, Inc.'s (ICTSI's) Nigerian subsidiary, recently turned over three solar-powered water systems to the Ogu community, in order to address the community's pressing need for access to clean water. One of the three solar-powered water systems installed in the Ogu community Numerous communities in the Niger Delta region continu
cargo-partner grows its customs team in US cargo-partner expands its export and import customs clearance services for products entering or departing the United States by road, air, or sea. The company said it has now increased the size of its specialised customs staff. With four offices across the United States, Chicago, Los Angeles, New York, and Clarksville, the cargo-partner team provides a full range of air freight, sea freight, and o
Eezyimport, Drip Capital launch collaboration to provide trade finance solutions for US importers Eezyimport, a global import management platform, has announced a partnership with Drip Capital, a global fintech company, to provide integrated, streamlined trade finance solutions for US importers. This collaboration will enable small and medium-sized businesses (SMBs) to quickly access collateral-free trade financing online while simplifying import processes and reducing documentation. Accordin
Port of London Authority and RightShip unveil decarbonisation partnership RightShip, an Environmental, social, and corporate governance (ESG)-focussed digital maritime platform, will work together with the Port of London Authority (PLA) to support the Net Zero transition on the United Kingdom's Thames. In particular, under this partnership, the Port of London Authority will use RightShip's Maritime Emissions Portal (MEP), enabling accurate measurement, identification,
Svitzer, APM Terminals Bahrain renew contract for two line boats Two Maersk-owned companies, Svitzer and APM Terminals, have renewed their contract for the operation of two line boats that service vessels calling into Bahrain. The new agreement between the global towage provider and APM Terminals Bahrain will run until December 2027. The two line boats serve coastal tankers and small vessels, including tugs and barges. "The contract renewal signifies great coo
Maersk increases rates from Far East to Med ports Maersk has announced an increase in its FAK (Freight All Kinds) rates from Far East ports to the Mediterranean. The following updated rates will be effective from 31 July. Origins Destinations Rate levels (USD) 20DC Rate levels (USD) 40DC / 40HC Effective start date Effective end date Asia Mainports Barcelona, Spain US$1,850 US$2,300 31 July Until further notice, but not beyond 31 December Asia M
NBOSCO orders up to eight feeder ships Ningbo Ocean Shipping Company (NBOSCO), the liner shipping unit of Ningbo-Zhoushan Port Group, has made its first newbuilding orders since the company was listed on the Shanghai Stock Exchange in December 2022. NBOSCO said in a regulatory filing today (17 July) that it has ordered up to eight 1,058 TEU container ships from Taizhou Jianxing Heavy Industries on 14 July. The company had raised US$26
ICTSI Argentina welcomes ZIM's Patagonia Express Service TecPlata, International Container Terminal Services Inc. (ICTSI) cargo handling operations at the La Plata Port in Argentina, got the first call from ZIM's Patagonia Express Service (PES), which connects the Argentinian market with the United States and the Caribbean Gulf, among other destinations. ZIM's new service links Argentina to the Caribbean and the US Gulf Coast via the ports of Kingston
Svitzer awarded Greek LNG terminal contract with Gastrade Svitzer, part of A.P. Moller-Maersk and a global towage provider, has signed a 15-year agreement to serve Gastrade's Alexandroupolis Independent Natural Gas System (Alexandroupolis INGS) LNG terminal, Greece's first offshore LNG project. Svitzer will use its global terminal towage knowledge and experience to build up towage services and support for advanced LNG operations at the new import termin
Port of Sines signs green shipping corridor agreement with Brazilian partner APS - Ports of Sines and the Algarve Authority and CSN - Steelwork National Company (Brazil) signed a Memorandum of Understanding (MoU) on 12 July, within the scope of the European Commission's Global Gateway initiative. More specifically, this agreement aims at establishing the scope, rules and guiding principles of the developing joint action in order to establish sustainable, green and digital
Imperial Petroleum ships out aframax tanker to bulker spinoff C3is Greek tanker and bulker owner Imperial Petroleum has sold its 2010-built aframax to an affiliated bulker venture C3is. The Nasdaq-listed spinoff of Harry Vafias-led StealthGas has agreed for the 115,800 dwt Samsung-built ship to change hands for $43m. C3is was formed as a spinoff of Imperial Petroleum earlier this year with two handy bulk carriers. ...
Fugro selected for Curaçao offshore wind site survey The Government of Curaçao has hired Dutch surveyor Fugro to map the seabed of the island's surrounding waters for the future development of floating offshore wind farms. The survey work by Fugro follows a feasibility assessment by research organisation TNO, which concluded that Curaçao's territorial waters are some of the best in the world for ...
OEUK roadmap could deliver £90bn to energy supply chain Offshore Energies UK (OEUK) has published a roadmap that outlines how the UK can support jobs, economic growth, and innovation in the offshore energy supply chain well into the future. The roadmap, named titled Harnessing the Potential, was made by OEUK in collaboration with Robert Gordon's University (RGU). The wider offshore energy sector, including oil ...
NBOSCO inks order for up to eight feeder boxships Ningbo Ocean Shipping Co (NBOSCO), has signed for the construction of up to eight feeder boxships at Taizhou Jianxing Heavy Industry. The Shanghai-listed subsidiary of Ningbo-Zhoushan Port Group has booked four firm 1,058 teu ships with options for four more. No price has been revealed for the units that fetch around $24m each. Deliveries should ...
Russia backs out of Black Sea grain deal Russia has officially withdrawn from a United Nations-backed deal to allow Ukrainian grain exports across the Black Sea. The deal, brokered by the United Nations and Turkey last July, had been extended several times, but Moscow has long complained that obstacles remained to its exports of grain and fertiliser and presented a series of demands ...
Eneti's Seajacks wins two vessel contracts Emanuele Lauro-led offshore wind player Eneti announced that its subsidiary Seajacks has clinched two new contracts for its self-propelled jackup vessels. The Monaco-based owner and operator said employment has been secured for its smaller NG2500-class units in Northwest Europe for between 62 and 82 days. The deals should generate between around $5.2m and $6.7m of ...
Petrofac pens services deal for ex-BW Offshore FPSO UK offshore services firm Petrofac has been awarded a facilities management contract for the recently acquired by CNR International. The initial three-year, multi-million-pound contract will see Petrofac's Asset Solutions business providing integrated services for the floater. The FPSO has an oil production capacity of 45,000 barrels per day. The production at the Espoir field off ...
Hours left before Black Sea grain deal expires A frantic day of diplomacy is expected Monday as the deal to allow Ukraine to ship grain via the Black Sea is due to expire at midnight with the last bulk carrier to move Ukrainian grain under the current deal departed from Odesa yesterday. The Black Sea Grain Initiative was originally agreed upon in July ...
Yinson buys Atlanta FPSO from Enauta Malaysian floater operator Yinson has exercised an option to acquire FPSO Atlanta from oil and gas player Enauta. Enauta said that Yinson acquired the floater through the purchase of all the shares of AFPS BV, the platform owner company. "The exercise of the option is an important milestone in de-risking the full development of the ...
Danish developers link up for 500 MW offshore wind project in Bangladesh Danish developers Copenhagen Infrastructure Partners (CIP) and Copenhagen Offshore Partners (COP) have submitted a proposal to the Bangladesh government for a 500 MW offshore wind project off the coast of the Bay of Bengal. If implemented, the offshore wind farm estimated to be worth $1.3bn, would be the first of its kind in Bangladesh - ...
Odfjell Drilling fixes semisub to Equinor Oslo-listed semisub player Odfjell Drilling has firmed up deals with Equinor for its 2012-built rig . The contracts have a combined firm duration of 23 months and a value of about $290m, excluding integrated services, rig upgrades, or mobilisation fees. The rig will also be awarded provisions for performance bonuses and fuel incentives. The arrangement ...
CDB Leasing sells five capes for $103m Large bulkers in the sales and purchase arena are seeing a flurry of activity with China Development Bank Financial Leasing behind the biggest bulker deal this summer. Sources tell Splash that the Chinese mammoth is shaving off five capes, joining a string of other owners selling ships in the largest bulker segment. The five Jinhai-built ships, ...
Signal Maritime debuts Position Value concept Tanker pool manager Signal Maritime has introduced a new monthly 'Position Value' concept to enable tanker owners to capitalise directly from the geographic position of their vessels on entering or exiting its pools. The Position Value determines the potential earnings of a vessel based on its geographic position considering market conditions, historical data, and every ...
How regulatory collaboration around ammonia can fuel sustainable shipping The world is being compelled into urgent action to combat climate change. At the centre of this international push, the maritime industry is under increasing pressure to adopt sustainable practices and transition to alternative fuels especially now the International Maritime Organization has revised the industry's greenhouse gas strategy, writes Kim Yeontae, an executive vice president ...
Southbound traffic towards Kerch Strait continues in wake of Crimean Bridge attack The number of Automatic Identification System gaps relating to the Kerch Strait skyrocketed in March and these have remained at...
Largest dark fleet shipping company's reflagged Mongolia tankers shift to Gabon, Cook Islands All tankers were previously managed by Gatik Ship Management, whose mysterious backers have spread the 50-plus fleet of Russian trading...
The week in charts: The dark fleet's shipping companies | Armed guards still needed | Iran's oil exports hit five-year high point EU shipping emissions reached a three-year high in 2022. A sanctions test looms for shipowners as the Urals crude price...
FSO Safer offloading operations set to start The UN's replacement tanker, the very large crude carrier Nautica, which cost the UN $55m, has arrived in Yemen
The week in newbuildings: Shipowners sign contracts valued at $7.3bn Chinese shipbuilders continue to dominate ordering activity, having booked 39 ships in the past week, while Japan and South Korea...
Shipping needs a target of 50% reduction in accidents by 2050 Against the backdrop of a shipping industry trying to cut accidents, a panel discussion hosted by Inmarsat Maritime concluded that...
Singapore bunker sales fall to four-month low in June Despite the broad decline in all bunkering, liquefied natural gas bunker sales picked up in Singapore, as weaker prices in...
Russian termination of Ukraine grain deal promises pain for millions, says UN After almost a year in operation, the Black Sea Grain Initiative, which has allowed more than 30m tonnes to be...
Höegh Autoliners adds four more newbuildings to boost global PCTC orderbook to 148 ships Höegh Autoliners' latest 9,100 car capacity vessels are expected to utilise ammonia-fuel from their delivery in 2027
Falling LNG price justifies carrier choices Container shipping invested heavily in LNG to meet IMO2020 obligations. With the cost of the fuel now below VLSFO in...
Daily Briefing The top 10 dark fleet shipping companies in Russian oil trades | MEPC80 explained: What the IMO's revised climate strategy...
IMO should focus on 'practical' carbon phase out in bunker fuels rather than levy, says Ardmore chief The GHG levy proposal at the IMO continues to divide the shipping industry, as tanker owner Ardmore's chief executive Anthony...
China Merchants Port Group names Xu Song as new chief executive The 51-year-old Xu Song has a background in logistics and ports in Liaoning Province
Prokopiou further expands VLCC orderbook in China Greek owner has firmed up two orders for six VLCCs in just a week at two separate Chinese yards
Carriers see some success in rates drive Asia-US freight rates have been buoyed by reduced capacity. On the transatlantic, however, rates have now fallen below pre-pandemic levels
How to optimize traffic flow with BGP Equinix Metal introduces BGP routing configuration for traffic handling & IP ownership
Global demand for high & heavy cargo drives secondary vessel 'spillover' market Breakbulk ro/ro shippers are hunting for solutions as carriers deal with high vessel charter rates, tight capacity and port congestion.
GPA's Brunswick seeing significant growth in auto imports Brunswick's growth comes amid rising automotive production, pent-up consumer demand and an easing of the semiconductor shortage that occurred during the pandemic.
Post-COVID ocean market has normalized, not collapsed: analyst It's easy to paint developments in the global shipping market as extreme, but when context is provided, the market is on many levels almost boringly normal at present, writes analyst Lars Jensen.
Kontainers founder starts new shipper-focused rate management tech provider Most of the landscape for container rate management vendors has focused on tools for forwarders, leaving a gap in software targeting shippers.
Russia pulls safety guarantees for Ukraine grain ships Move comes as Moscow announces the end of the Black Sea Grain Initiative
No more pure play: Vafias-backed Imperial Petroleum sells tanker to bulker spin-off C3is Deal comes after seller touted the potential investor appeal of splitting dry bulk and tanker assets into separate companies
Clarksons in talks to acquire Maersk Broker as consolidation heats up UK and Danish giants understood to be close to finalising a deal that would be Clarksons' biggest since acquiring Platou in 2015
Clarksons eyes Maersk Broker as consolidation heats up UK and Danish giants understood to be close to finalising a deal that would be Clarksons biggest since acquiring Platou in 2015
Cook Islands cargo ship banned by Paris MOU after skipping repair yard The Balkan 1 headed to Russia instead of a Turkish shipyard
Imabari boss warns shipbuilding faces a labour crisis Dwindling workforce in leading shipbuilding nations could limit capacity ahead of major fleet renewal
VLCC and suezmax owners should keep an eye on Argentina's new crude export project, Gibsons says $1.2bn is being invested in new facility for bigger tankers on Atlantic coast
Urals crude price hike has significant ramifications for Western shipping The G7's $60 crude price cap was breached last week for Urals, with Western shipowners active in the trade
Shipping halted after fatal attack on Kerch bridge between Russia and Crimea Ukraine claims it damaged the key link between mainland and annexed region
Owners' rejection of Russian officers creating noticeable shortages, Danica says Agency says companies will need to diversify the sources of their crew members
Supply-side spur: Cleaves sees 'significant' recovery for bulkers in 2024 Asset manager backing dry cargo rebound in the second half of next year as fleet growth remains low
World's first methanol-powered container ship begins maiden voyage Maersk Solstice is heading to Europe after completing first bunkering in South Korea
Russia pulls the plug on UN-led corridor for Ukrainian grain Moscow says it has suspended Black Sea Grain Initiative until UN and the West meet demands over its own trade
Ponant homes in on shipyard for 'new generation' emission-free cruise design French shipowner says revolutionary vessel will cost 30% more than conventional vessels
DNB launches $459m share buyback to 'optimise' capital structure Deal will include some stock repurchased from the Norwegian government
San Miguel Corp splashes out on Japanese-built supramax The Philippines' largest beer producer expands directly owned bulker fleet to four vessels
Inflation yet to impact on rates in 'flat' hull market Gallagher says war risk cover is still available despite reinsurers' Russian exclusion clause
UN-owned ship arrives off Yemen to replace rusting tanker VLCC Nautica left Djibouti on Saturday as planning for STS operation reaches critical phase
Globus Maritime mulls reverse stock split after Nasdaq puts it on notice over price Greek bulker owner is the latest US-listed shipping company to dip under the minimum $1 level
Dalian Shipbuilding confirms Dynacom order for crude carriers Reborn CSSC Tianjin Shipbuilding - a DSIC subsidiary - will build the 307,000-dwt carriers
Ship recyclers struggle to convince big owners to scrap as steel prices seep downwards Big ships remain out of reach due to dropping prices, but there is still a steady supply of small vessels
Hoegh Autoliners orders giant car carrier newbuildings by the dozen Oslo-listed tonnage provider declares options for a quartet of green ammonia-ready Aurora-class vessels
Ponant hones in on shipyard for 'new generation' emission-free cruise design French owner says the revolutionary ship will cost 30% more than conventional vessels
Three-peat: Genco Shipping retains ESG crown in Webber Research annual tables All but six of 64 public shipping companies are now reporting their carbon emissions as ratio continues to improve
San Miguel Corp splashes out on Japanese-built supramax bulker The Philippines' largest beer producer expands directly-owned bulker fleet to four vessels
Product tanker good times set to run until at least late 2024, says Poten US broker says changes brought on by Russia's invasion of Ukraine are unlikely to unwind anytime soon
Cleaves' new shipping fund logs return of 29% as it bets big on tankers Norwegian fund's boss Carl Synvis says crude and product carriers set for an early start to more profitable winter season
New Fortress Energy opts to send laid-up FSRU for demolition World's first conversion of an LNG carrier into a floating storage and regasification unit reaches end of life
Unifeeder bucks industry sector trend and sticks with asset-lite model But feeder operator is adapting its chartering strategy to volatile market with more focus on longer-term charters
Why logistics was the logical next step for DP World Port giant's shipping vertical aims to plug supply chain gaps and drive cargo through its ports and terminals
Price war keeps air cargo rates below natural level The decline of air cargo is less severe than earlier this year, but a bearish case for a counter-seasonal, second-half dip is gaining momentum as freight forwarders undercut each other on prices to win customers.
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